FraudTalk is a blog focused on the review and discussion of recent significant cases of fraud, corruption and employee misconduct - particularly major embezzlement cases in the US. Fraud Talk is published by Chris Marquet, Chairman & CEO of Marquet International Ltd., an international investigations, litigation support and due diligence firm.

Wednesday, March 30, 2011

Montana Woman Pleads Guilty To $676K Bank Embezzlement

Kathleen "Kathy" Sammons, 52, of Charlo, Montana, pleaded guilty yesterday to charges she embezzled some $676,000 from the Whitefish Credit Union where she had been employed initially as a teller and ultimately branch manager, in their Polson branch. According to authorities, Sammons began stealing cash from her drawer in or about 1998 and continued to do so until June 2010 after a surprise cash audit revealed the missing money. She reportedly confessed to authorities after being confronted. According to reports, Sammons said she used the stolen money to make loan payments for credit union customers, make donations to local charities, pay for high school sports banquets and trips, buy a house in Dillon and cover thefts of cash by other credit union employees and also enhanced her personal income. Sammons employed an elaborate scheme to cover up the thefts, making paper transfers of funds when necessary and doctoring books and records. Sammons went missing immediately after the discrepancy was discovered but was found and arrested two days later.

About the Author - Chris Marquet

Chris Marquet is President, Investigative Services with SunBlock Systems, an investigations, litigation support, computer forensics & cyber security firm. Chris has over 34 years of professional experience in industry with Marquet International and prior stints with Kroll Associates, Citigate Global Intelligence and Decision Strategies/Vance International.
Chris is the author of many articles and white papers, including the annual Marquet Report on Embezzlement as well as the Marquet Report on Ponzi Schemes. He has lectured extensively on subjects relating to employee misconduct; due diligence; business intelligence, internal investigations, fraud, employee integrity, workplace violence, kidnapping, terrorism, crisis management and travel security.
Chris is a Certified Board Advisor and Board Member for the Center for Strategic Business Integrity. He received an A.B. degree from Dartmouth College in 1983, with a triple major in Physics, Economics, and Philosophy.
He can be reached at cmarquet@sunblocksystems.com